December 6, 2007

Northern Rock owes 50 bln dlrs to central bank, less than expected (AFP)

A Northern Rock bank branch is pictured in central London. Troubled mortgage lender Northern Rock said Thursday it had borrowed 25 billion pounds in emergency funds from the Bank of England, seeking to counter speculation it had needed much more.(AFP/File/Edmond Terakopian)AFP – Troubled mortgage lender Northern Rock said Thursday it had borrowed 25 billion pounds in emergency funds from the Bank of England, seeking to counter speculation it had needed much more.

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